Gold to rally regardless of who is elected

(London Telegraph) Gold is likely to go much higher in the course of the 45th President’s four year term – whether there is a President Obama or a President Romney, according to analytics firm GoldCore.

In its latest newsletter, GoldCore said that the US fiscal cliff, involving steep government spending cuts and tax hikes due in January, is likely to “support gold at these levels and lead to higher gold prices in the coming weeks”.

Depending on which of the candidates is elected as US President, the gold price is predicted to experience short-term weakness, but over the long term, GoldCore expected that monetary challenges facing the Fed and the White House would lead to the gold price increasing.